19 January 2010
For Immediate Release
(Vancouver, BC, January 19, 2010) Novadx Ventures Corp (“Novadx”) - TSX-V: NDX announces that it has closed non-brokered private placement consisting of 1,000,000 units (“Units”) at $0.20 per Unit for gross proceeds of $200,000. Each Unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at an exercise price of $0.25 per share for a period of 12 months from the date of closing. The proceeds of the private placement will be used for general working capital. The common shares and warrants forming the units, as well as any common shares issued upon exercise of the warrants, are subject to a hold period of four months and one day from the date of issuance. About Novadx: Novadx is a Vancouver-based Investment Company whose primary focus is on providing merchant banking services to natural resource companies. Novadx structures and makes direct equity investments as a principal and provides management and other related services to companies in specific resource sectors, such as MCoal Corporation, a subsidiary company that has obtained all necessary operating permits and is now opening a metallurgical coal mine in the State of Alabama, USA. For more information please visit www.novadx.com.
This press release is not for distribution in the United States or over United States wire services.
ON BEHALF OF THE BOARD
Neil MacDonald
President and CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
For more information about Novadx Ventures Corp. please contact:
Neil MacDonald, President and CEO
(604) 633-2776
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Robin Bjorklund, or Griff Jones
Investor Relations
OceanPoint Advisors Inc.
(604) 682-7339
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